Aston Martin and Mercedes did not release any financial details of the deal, which they aim to complete by the end of the year.

“The proposed deal will see Aston Martin access significant Mercedes-AMG and Mercedes-Benz Cars’ resources, allowing the development of bespoke V8 powertrains and the use of certain components of electric and electronic architecture,” Ian Minards, Aston Martin’s product development director, said in a statement.

Aston Martin has been struggling of late. In the nine months to the end of September last year it sold 2,340 cars, a 19% drop on the same period in 2011.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

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